GST rollout: Micro, small, medium scale traders will suffer huge losses, claims Chidambaram

Congress leader and former finance minister P. Chidambaram on Saturday hit out at the Bharatiya Janata Party (BJP) over its decision to roll out the Goods and Service Tax (GST), saying micro, small and medium scale traders will suffer huge losses due to its implementation and inflation will seriously be impacted.

"The GST launched by the Centre is not the original one that was drafted earlier by experts. This new reform will seriously impact inflation. Micro, small and medium scale traders will suffer huge losses due to this," Chidambaram told media here.

He further said that when the BJP was in the opposition, they protested against the GST tooth and nail, a fact that cannot be denied.

The launch of the uniform tax reform was done in the Central Hall of Parliament where President Pranab Mukherjee and Prime Minister Modi launched the new taxation regime with the press of a button.